Altrad has announced a landmark agreement to acquire Stork TS Holdings Limited, the parent company of the Stork UK group of companies.
The deal marks a significant expansion for Altrad and, pending regulatory approvals and customary closing conditions, is expected to be finalised in the third quarter of 2024.
The acquisition bolsters Altrad’s dedication to strategic investments that are aligned with its core values and client-focused approach.
“We are delighted to welcome Stork UK into the Altrad family,” stated John Walsh, CEO of Altrad for the UK, Ireland, Nordics & Poland. “The acquisition represents a wonderful opportunity to extend our portfolio of services in the United Kingdom offshore sector, whilst enhancing the outcomes we deliver for our clients.”
Stork UK will bring around 1,800 skilled employees into the Altrad Group, promising opportunities for career development and advancement. Steve Hunt, Regional Director of Stork UK, expressed confidence in the move: “We are extremely pleased to be joining Altrad and are confident our business will be well-positioned to grow and develop at pace under the new ownership structure.
We believe our collective capabilities and shared vision and values will be attractive to our clients, our people, and the communities within which we work.”